Updated End-Unit Residential
For Sale
$245,000
Pending
229 CANDLE LIGHT LANE Unit 229, Glen Burnie, MD 21061
Three-bedroom, one-and-a-half-bath condominium with recent updates in Heritage Hills.
Property Size1,216 SF
Days on Market24
Property Features for 229 CANDLE LIGHT LANE Unit 229
General Information
Standard status
Pending
Size
1,216 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,515
Building Details
Building Size
1,216 SF
Year Built
1974
Listing Agency:
Cummings & Co. Realtors
Listed By:
Gilda Day · License #680698
(443) 340-5680
Source:
Thehulsmangroup
Added: Sep 13
Changed: Oct 3
Last Checked: Oct 5 at 9:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This end-unit condominium offers three bedrooms and one-and-a-half baths, with recent updates completed before listing. The residence was built in 1974 and is located within Heritage Hills at 229 Candle Light Lane, Unit 229, in Glen Burnie, Maryland.
Key Highlights
- End‑unit condominium configuration
- Three bedrooms and one‑and‑a‑half baths
- Recently updated interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,411
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,220
$328.2K
Cap Rate 7%
$234,443
$234.4K
Cap Rate 9%
$182,344
$182.3K
Market Conditions
NOI Build-Up for 1,216 SF
Gross rent
$31.8K $26.16/SF
− Vacancy
−$2.0K −$1.62/SF
EGI
$29.8K $24.54/SF
− OpEx
−$13.4K −$11.04/SF
NOI
$16.4K $13.50/SF
Area
Anne Arundel County, MD
Vacancy
6.20%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,220
Cap Rate 7%
$234,443
Cap Rate 9%
$182,344
Alternative Uses
Best Use
Apartment 5plus
$234.4K
$205.1K – $273.5K
NOI $16,411 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$355.7K
$311.3K – $415.0K
NOI $24,900 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 21061, MD
57,352
Population
23,196
Households
2.5
Avg Household Size
36
Median Age
26%
College-Educated
90%
High-School Grad
12.2 sq mi
ZIP Area
4,701
Density / Sq Mi
$86,081
Median Household Income
$48,429
Median Earnings
$1,661
Median Rent
$326,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom, one-and-a-half-bath condominium with recent updates in Heritage Hills.
Where is this residential income property located?
The property is located at 229 CANDLE LIGHT LANE Unit 229 Glen Burnie, MD.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: End‑unit condominium configuration; Three bedrooms and one‑and‑a‑half baths; Recently updated interior
